Hi Bill,
We filled the gap today and also gapped-up further to create another and as you said, an island reversal is a possibility.
Y/day's low of 65c was a perfect 61.8% retracement (missed that somehow this morning). I love fib ratios! Simply because they work so often and if nothing else, create a dedicated trading plan.
What concerns me is the massive volume on the selloff days and only light volume today on the rise. Reminds me of the S&P500 since July. Light volume, big boys selling into weak hands and the real money left the table a few months back.
I like to use Twiggs Money Flow for volume analysis. There's a sharp divergence on there at the moment, which is quite bearish.
- Forums
- ASX - By Stock
- possible trend reversal?
Hi Bill,We filled the gap today and also gapped-up further to...
-
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)